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When you write a will, it gives you a chance to make decisions regarding how your assets will be distributed to specific beneficiaries. This includes tangible assets, financial assets and much more. If you die without a will, it is known as dying intestate. In that...
It’s easy to assume that unless you possess significant assets, estate planning doesn’t apply to you. However, this is a common misconception. Estate planning is not just about distributing wealth; it’s about making important decisions that affect your loved ones,...
A codicil is a legal tool that lets you update your will without having to start over. Think of it as an amendment. It attaches to your original will and makes specific changes without rewriting the entire document. People use codicils for various reasons, often tied...
No one likes to think about passing away without a plan in place. Still, it happens more often than you might think. If you die without a will in New York, state law decides what happens to your property and who receives it. Understanding intestacy laws In New York,...
A will reflects your life, your values and your wishes for the future. As life evolves, so too should your will. Many individuals create a will and file it away, overlooking the importance of periodic reviews and updates to this crucial document. Key moments when...
A will is often a fundamental tool when creating a comprehensive estate plan. This document can effectively relay your wishes to your surviving family members. Still, it is a legally enforceable document with technical requirements. It can lose its validity if it...
Your last will and testament expresses your wishes for how you want your property distributed after your death, but it does more than that: If properly executed, your will makes your wishes legally enforceable. This means that the executor you name in your will must...
If you have begun the estate planning process, you have likely heard the term “durable power of attorney.” This refers to powerful contracts that allow you to select a trusted person (or persons) to act on your behalf and make financial and legal decisions for you....
It can be difficult to think about end-of-life decisions, for yourself or a loved one. No one likes to contemplate death or the circumstances which may surround it. But if planning for that eventuality is something you believe is necessary, it’s important to...